Com.int.bk.regs Regulatory News (CBKD)

Commercial International Bank (Egypt) S.A.E.

Unconsolidated Financial Statements

March 31, 2014

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

FINANCIAL POSITION

As of March. 31, 2014

Amounts in EGP.

Note

March 31, 2014

Dec. 31 ,2013

Assets

Cash and Balances with Central Bank

15

4,694,156,406

4,796,240,354

Due From Banks

16

9,700,572,320

8,893,670,965

Treasury Bills and Other Governmental Notes

17

22,768,621,764

23,654,812,174

Trading Financial Assets

18

3,416,233,656

2,246,347,806

Loans and Advances to Banks

19

43,542,211

132,422,732

Loans and Advances to Customers

20

42,683,088,366

41,837,951,712

Derivative Financial Investments

21

93,698,197

103,085,538

Financial Investments

Available for Sale

22

27,053,060,381

23,363,501,695

Held to Maturity

22

4,185,480,015

4,187,173,991

Investments in Subsidiary and Associates

23

605,387,225

599,276,660

Investment Property

24

4,056,000

9,695,686

Other Assets

25

2,966,228,564

2,879,794,496

Deferred Tax

33

65,757,407

83,755,441

Property, Plant and Equipment

26

986,108,579

964,538,516

Total Assets

119,265,991,091

113,752,267,766

Liabilities and Equity

Liabilities

Due to Banks

27

876,140,847

1,373,410,040

Due to Customers

28

102,851,393,543

96,940,270,000

Derivative Financial Instruments

21

118,091,960

114,878,583

Current Income Tax obligations

1,152,996,108

1,179,708,811

Other Liabilities

30

1,621,544,763

1,446,046,680

Long Term Loans

29

141,302,084

132,153,227

Other Provisions

31

494,788,351

450,755,558

Total Liabilities

107,256,257,656

101,637,222,899

Equity

Issued & Paid- in Capital

32

9,081,734,430

9,002,435,690

Reserves

32

2,044,048,206

307,223,285

Reserve for Employee Stock Ownership Plan (ESOP)

105,223,752

190,260,457

Total Equity

11,231,006,388

9,499,919,432

Net Profit of the Period/Year After Tax

778,727,047

2,615,125,435

Total Equity and Net Profit for the Period/Year

12,009,733,435

12,115,044,867

Total Liabilities and Equity

119,265,991,091

113,752,267,766

Contingent Liabilities and Commitments

Letters of Credit, Guarantees and other commitments

37

18,051,540,509

16,182,489,160

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

INCOME STATEMENT

As of March. 31, 2014

Amounts in EGP.

Note

March 31, 2014

March 31, 2013

Interest and Similar Income

2,564,459,415

2,142,541,043

Interest and Similar Expense

(1,192,662,060)

(1,007,452,996)

Net Interest Income

6

1,371,797,355

1,135,088,047

Fee and Commissions Income

356,427,131

289,209,214

Fee and Commissions Expense

(36,851,976)

(29,298,795)

Net Income from Fees and Commissions

7

319,575,155

259,910,419

Dividend Income

8

1,234,794

737,384

Net Trading Income

9

151,931,713

132,136,317

Profit (Losses) from Financial Investments

22

3,968,948

1,952,434

Administrative Expenses

10

(392,434,440)

(344,644,091)

Other Operating (Expenses) Income

11

(149,158,334)

(53,277,425)

Impairment Charge ( Release) for Credit Losses

12

(184,587,065)

(226,326,368)

Net Profit before Tax

1,122,328,126

905,576,717

Income Tax Expense

13

(325,603,045)

(258,746,199)

Deferred Tax

33 & 13

(17,998,034)

8,307,460

Net Profit of the Period

778,727,047

655,137,978

Earning per share

14

Basic

0.76

0.66

Diluted

0.75

0.65

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1a

As of March. 31, 2014

Amounts in EGP.

March 31, 2014

March 31, 2013

Cash Flow From Operating Activities

Net Profit Before Tax

1,122,328,126

905,576,717

Adjustments To Reconcile Net Profit to Net Cash

Provided by Operating Activities

Depreciation

51,160,489

40,398,449

Impairment charge for credit losses

184,587,065

226,326,368

Other Provisions Charges

45,221,385

34,710,014

Trading Financial Investment Revaluation Differences

3,520,438

27,708,950

Available for sale and held to maturity investments exchange revaluation differences

(3,336,225)

(96,308,651)

Financial Investments Impairment Charge (Release)

411,873

(3,095,044)

Utilization of Other Provisions

(1,633,053)

(223,505)

Other Provisions No Longer Used

-

(141,520)

Exchange Differences of Other Provisions

444,461

9,997,924

Profits From Selling Property, Plant and Equipment

(72,757)

(491,491)

Profits From Selling Financial Investments

(3,973,106)

(1,951,651)

Share Based Payments

27,314,941

23,961,679

Investments in Subsidiary and Associates Revaluation

(110,565)

(2,773,485)

Operating Profits Before Changes in Operating Assets and Liabilities

1,425,863,072

1,163,694,754

Net Decrease (Increase) in Assets and Liabilities

Due from banks

(814,219,816)

(1,187,119,103)

Treasury Bills & Other Governmental Notes

1,349,983,072

(2,179,687,466)

Trading Financial Assets

(1,173,406,288)

342,061,660

Derivative Financial Instruments

12,600,718

22,681,045

Loans and Advances to Banks and Customers

(940,843,197)

(1,231,840,550)

Other Assets

(90,095,764)

(4,940,151)

Due to Banks

(497,269,193)

(715,615,737)

Due to Customers

5,911,123,543

7,314,053,459

Income Tax obligations Paid

(352,315,748)

(242,162,433)

Other Liabilities

175,498,083

227,533,737

Net Cash Provided from Operating Activities

5,006,918,482

3,508,659,215

COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E

CASH FLOW STATEMENT 1b

As of March. 31, 2014

March 31, 2014

March 31, 2013

Cash Flow From Investing Activities

Purchases of Subsidiary and Associates

(6,000,000)

-

Purchases of Property, Plant and Equipment

(68,996,099)

(112,435,909)

Redemption of Held-to-Maturity Financial Investments

1,693,976

8,067,598

Purchases of Available for Sale Financial Investments

(4,913,751,526)

(737,071,950)

Proceeds from Selling Available for Sale Financial Investments

1,493,776,127

1,532,349,018

Proceeds from Selling Real Estate Investments

5,639,686

-

Net Cash Generated from (Used in) Investing Activities

(3,487,637,836)

690,908,757

Cash Flow From Financing Activities

Increase (Decrease) in Long Term Loans

9,148,857

48,635,000

Dividends Paid

(1,253,337,989)

(309,308,739)

Capital Increase

79,298,740

-

Net Cash Generated from (Used in) Financing Activities

(1,164,890,392)

(260,673,739)

Net Increase (Decrease) in Cash and Cash Equivalent during the period

354,390,254

3,938,894,233

Beginning Balance of Cash and Cash Equivalent

11,758,996,230

5,536,080,094

Cash and Cash Equivalent Balance At the End of the Period

12,113,386,484

9,474,974,327

Cash & Cash Equivalent Comprise

Cash and Balances with Central Bank

4,694,156,406

5,616,291,150

Due From Banks

9,700,572,320

9,299,527,722

Treasury Bills and Other Governmental Notes

22,768,621,764

13,719,596,497

Obligatory Reserve Balance With CBE

(3,225,921,408)

(3,306,582,184)

Due from Banks (Time Deposits) More than Three Months

(5,961,288,644)

(5,611,093,131)

Treasury Bills with Maturity More than Three Months

(15,862,753,954)

(10,242,765,727)

Total Cash & Cash Equivalent

12,113,386,484

9,474,974,327

March 31,

2013

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(losses)

(EGP)

Special Reserves

(EGP)

Reserve for A.F.S investments revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Net Profits for the Period

(EGP)

Reserve for Employee Stock Ownership Plan ESOP

Total

(EGP)

Beginning Balance

5,972,275,410

380,348,755

2,037,107,372

1,001,979

117,805,566

153,506,781

103,716,932

2,380,683,598

164,761,121

11,311,207,514

Transferred to Reserves

-

110,016,166

1,213,438,663

-

2,387,583

-

-

(1,325,842,412)

-

-

Dividends Paid

-

-

-

(1,001,979)

-

-

-

(1,054,841,186)

-

(1,055,843,165)

Net Profit of the Period

-

-

-

-

-

-

-

655,137,978

-

655,137,978

Net Change at fair value of AFS Financial Investments

-

-

-

-

-

(208,260,559)

-

-

-

(208,260,559)

Transferred (From) to Bank Risk Reserve

-

-

-

-

-

-

(19,199,133)

19,199,133

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

23,961,679

23,961,679

Balance at the End of Period

5,972,275,410

490,364,921

3,250,546,035

-

120,193,149

(54,753,778)

84,517,799

674,337,111

188,722,800

10,726,203,447

March 31,

2014

Capital

(EGP)

Legal Reserve

(EGP)

General Reserve

(EGP)

Retained Earnings

(losses)

(EGP)

Special Reserves

(EGP)

Reserve for A.F.S investments revaluation Diff.

(EGP)

Banking Risk Reserve

(EGP)

Net Profits for the Period

(EGP)

Reserve for Employee Stock Ownership Plan ESOP

Total

(EGP)

Beginning Balance

9,002,435,690

490,364,921

406,242,752

-

27,366,759

(720,468,079)

1,990,756

2,716,851,611

190,260,457

12,115,044,867

Capital Increase

79,298,740

-

-

-

-

-

-

-

-

79,298,740

Transferred to Reserves

-

130,719,237

1,444,405,339

-

740,692

-

-

(1,463,513,622)

(112,351,646)

-

Dividends Paid

-

-

-

-

-

-

-

(1,253,337,989)

-

(1,253,337,989)

Net Profit of the Period

-

-

-

-

-

-

-

778,727,047

-

778,727,047

Transfer from Special Reserve

-

-

-

-

-

-

-

-

-

-

Net Change at fair value of AFS Financial Investment

-

-

-

-

-

262,685,829

-

-

-

262,685,829

Transferred to (From) Bank Risk Reserve

-

-

-

-

-

-

-

-

-

-

Reserve for Employee Stock ownership plan ESOP

-

-

-

-

-

-

-

-

27,314,941

27,314,941

Balance at the End of Period

9,081,734,430

621,084,159

1,850,648,091

-

28,107,451

(457,782,250)

1,990,756

778,727,047

105,223,752

12,009,733,435